Homeowners who are underwater with their mortgage and wish to short sale their distressed property may find that relief is on the way from a bill strongly supported by the National Association of Realtors (NAR) that would impose a deadline on lenders to...
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Homeowners who are underwater with their mortgage and wish to short sale their distressed property may find that relief is on the way from a bill strongly supported by the National Association of Realtors (NAR) that would impose a deadline on lenders to respond to short-sale requests. The legislation, H.R. 6133, “Prompt Decision for Qualification of Short Sale Act of 2010,” was offered yesterday in Congress by U.S. Reps. Robert Andrews (D-N.J.) and Tom Rooney (R-Fla.). The bill would require lenders to respond to consumer short sale requests within 45 days.
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